Which two of the following statements are correct?

Question

BlackTom AI · Accepted Answer

First, restating what is being asked helps frame the evaluation: we need to identify which two statements are correct from the given options.
Option a: 'The answers to Q6 and Q7 confirms that the affordability has improved.' This asserts an improvement in affordability. Since affordability depends on how income growth compares to price growth, this statement would be true only if incomes grew faster than prices. Without that context from Q6 and Q7, asserting improvement is not justified, and the wording directly claims improvement, which contradicts the two statements identified as correct later. Therefore, this option is not supportable as correct based on the provided pair.
Option b: 'Rate of growth of income is larger than the rate of growth of price.' If incomes rose faster than prices, affordability should improve, not worsen. This makes option b inconsistent with the logic that would lead to reduced affordability. Consequently, b is not correct.
Option c: 'The answers to Q6 and Q7 confirms that the affordability has worsened.' This aligns with the scenario where price growth outpaces income growth, leading to reduced affordability. Since Q6 and Q7 are implied to confirm this relationship, this statement is consistent with the typical interpretation of affordability when price growth dominates income growth. Hence, c is a correct statement.
Option d: 'Rate of growth of income is smaller than the rate of growth of price.' This directly describes a situation where prices are rising faster than incomes, which reduces affordability. This is a precise and factual description of the condition that would cause affordability to worsen, so d is also correct.
In summary, options c and d both describe a scenario where affordability worsens due to slower income growth relative to price growth, while a and b describe the opposite or are not supported by the same reasoning. The key concept here is the comparison between income growth and price growth and how that dynamic affects affordability over time.

MCD2080 - T1 - 2025 Workshop Exercises (Week 2)

Which two of the following statements are correct?

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